iShares U.S. Home Construction ETF (BATS:ITB) Sets New 12-Month Low – Should You Sell?

iShares U.S. Home Construction ETF (BATS:ITB – Get Free Report) reached a new 52-week low during trading on Wednesday. The company traded as low as $82.11 and last traded at $82.3680, with a volume of 1,318,823 shares. The stock had previously closed at $84.64.

iShares U.S. Home Construction ETF Trading Down 2.3%

The company has a 50 day simple moving average of $92.26 and a two-hundred day simple moving average of $94.32. The firm has a market capitalization of $1.90 billion, a P/E ratio of 10.18 and a beta of 1.31.

iShares U.S. Home Construction ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 15th were issued a $0.2104 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.0%. This is a boost from iShares U.S. Home Construction ETF’s previous quarterly dividend of $0.1592. The ex-dividend date of this dividend was Tuesday, September 15th.

Hedge Funds Weigh In On iShares U.S. Home Construction ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of iShares U.S. Home Construction ETF by 20.5% in the 1st quarter. Bank of America Corp DE now owns 6,962,234 shares of the exchange traded fund’s stock worth $630,430,000 after buying an additional 1,182,332 shares during the last quarter. GTS Securities LLC bought a new position in shares of iShares U.S. Home Construction ETF in the 2nd quarter valued at about $26,400,000. Greenland Capital Management LP bought a new position in shares of iShares U.S. Home Construction ETF in the 2nd quarter valued at about $10,448,000. Bank of Nova Scotia lifted its holdings in shares of iShares U.S. Home Construction ETF by 42.9% in the 1st quarter. Bank of Nova Scotia now owns 95,012 shares of the exchange traded fund’s stock valued at $8,603,000 after acquiring an additional 28,529 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in iShares U.S. Home Construction ETF in the second quarter worth about $8,653,000.

About iShares U.S. Home Construction ETF

(Get Free Report)

iShares U.S. Home Construction ETF, formerly iShares Dow Jones U.S. Home Construction Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Home Construction Index (the Index). The Index measures the performance of the home construction sector of the United States equity market, and includes companies that are constructors of residential homes, including manufacturers of mobile and prefabricated homes. The Company invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.

Further Reading

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